AvalonBay Communities, Inc. is a real estate investment trust (REIT) that develops, redevelops, acquires, owns, and operates multifamily apartment communities. The company focuses on leading metropolitan areas with strong employment and higher cost of home ownership. AvalonBay's portfolio includes a mix of upscale, value-oriented, and moderate-price point apartment communities across New England, the New York/New Jersey metro area, the Mid-Atlantic, the Pacific Northwest, and Northern and Southern California, as well as expansion regions in the Southeast, Texas, and Colorado.